European Central Bank

European Central Bank makes largest-ever interest rate hike

FRANKFURT, Germany (AP) — The European Central Bank made its largest-ever interest rate increase Thursday, following the U.S. Federal Reserve and other central banks in a global stampede of rapid rate hikes meant to snuff out the inflation that is squeezing consumers and pushing Europe toward recession.The bank’s governing council raised its key benchmarks by …

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Euro zone inflation hits another record of 9.1% as food and energy prices soar

Inflation continues to hit new records just as the European Central Bank mulls another large interest rate hike for next month.NurPhoto / Contributor / Getty ImagesEuro zone inflation hit a new record high in August of 9.1%, according to flash figures from Europe’s statistics office Eurostat, with high energy prices the main driving force.The rate …

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